COVID-19 Message

A Message to Our Members Regarding the COVID-19 Virus

As you know, we are dedicated to the health and well-being of our staff and members. Out of an abundance of caution starting Thursday March 19, we have decided to create social distancing to limit the exposure to our staff and members by conducting transactions at the front entrance only, until further notice.

To accommodate our member needs, the following options are available:

• Door Service - We will be happy to meet you at our front entrance to conduct all your transaction needs during regular business hours

• Phone – transactions can be conducted over the phone during regular business hours

• ATMs – access to over 30,000 All-point ATMS

• Online Access – through our online banking (www.fasnycu.com) or the FASNY FCU mobile app (download from the Google Play or App Store)

• Bill Pay – available 24/7 through internet banking or our mobile app

• Remote Deposit Capture – members can use remote deposit capture to deposit checks through the SPRIG by CO-OP mobile app

• Loan requests – can be applied for through our website, email, or mail

We apologize for any inconvenience this may cause and appreciate your patience during this time.

Dedicated to You: COVID-19 Response for First Responders

FASNY Federal Credit Union takes your health and wellness very seriously. In response to the many challenges our members are facing due to the ongoing COVID-19 pandemic, FASNY FCU’s Board of Directors have created a Temporary Relief Plan. Members may use this temporary plan to alleviate some of the financial difficulties that the spread of COVID-19 has caused. The plan will go into effect on April 8, 2020 and continue until such a time as it is no longer necessary, to be determined by the Board of Directors. Thank you for your unwavering dedication to serving our communities during this crisis.

How We Can Help

We know that there are many members facing financial challenges due to COVID-19, including cost of medical treatment and loss of income. FASNY FCU is here to help, we are offering affected members the following options for relief:

• CD WITHDRAWALS

  • Waive early withdrawal penalty until May 31, 2020.

• CURRENT LOANS

  • Consumer Loans

    • Advance due date of the current loan ahead by 3 months, this will extend the length of the loan by 3 months, payment amount does not change, interest still accrues

      • Loan must not be delinquent

      • No severe delinquencies (over 60 days)

  • HELOCs

    • Re-amortize loan with first payment due date out 3 months, but repayment period will not exceed the mortgage expiration

      • Loan must not be delinquent

      • No severe delinquencies (over 60 days)

• COVID RELIEF LOAN

  • We will be providing the following Personal Loan options:

    • 12-month for $1,000.00 at 2.50% APR** $112.73 est./month (9 payments) 

    • 24-month for $2,000.00 at 3.50% APR** $98.89 est./month (21 payments)

    • 36-month for $3,000.00 at 4.50% APR** $97.53 est./month (33 payments)

  • Rates are set regardless of credit tier

  • All loans will have an option of no payment for 90 days 

  • Approval and loan amount will be based on creditworthiness 

Qualifications

To qualify for any of the above relief options, member must have experienced significantly reduced work/wages resulting from one of these qualifying COVID-19 factors:

• A lay off/loss or reduction of employment

• Required quarantine, at the instruction of the individual’s health care provider, or a local, state or federal official, to prevent the spread of COVID-19

• Time off work to care for an immediate (spouse, parents, sibling, child, aunts/uncles, grandparents) family member diagnosed with positive COVID-19

• Time off work to provide childcare to elementary age (or younger) or special needs children resulting from school or childcare closures

• Other COVID-19 related scenarios

  • Credit union reserves the right to verify member’s circumstances and determine member need